Slide 1: Second Quarter 2025 Earnings Conference Call
SECOND QUARTER 2025 EARNINGS CONFERENCE CALL July 25, 2025 © 2025 Minerals Technologies Inc. All Rights Reserved.
Slide 2: Forward-Looking Statements and Non-GAAP Measures
Forward-Looking Statements and Non-GAAP Measures This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations and forecasts of future events such as new products, revenue
Slide 3: Douglas T. Dietrich, Chairman and Chief Executive Officer
Douglas T. Dietrich Chairman and Chief Executive Officer
Slide 4: Second Quarter 2025 Overview
Second Quarter 2025 Overview $529M $79M 14.9% $1.55 Operating Operating Earnings Sales Income Margin Per Share +8% +25% +200bps +36% vs. Prior Quarter vs. Prior Quarter vs. Prior Quarter vs. Prior Quarter Historically strong quarter amid ongoing market volatility Sales rates expanded through the
Slide 5: Market Update
Market Update Market outlook Near-term growth drivers Increased promotional activity and new Consumer & Specialties Household & Similar cat litter market conditions to H1’25 product launches in cat litter Personal Care Strong conditions for specialty solutions Multiple investments to support
Slide 6: Erik C. Aldag, Chief Financial Officer
Erik C. Aldag Senior Vice President, Finance and Treasury and Chief Financial Officer
Slide 7: Second Quarter Financial Summary
Second Quarter Financial Summary Second Quarter versus First Quarter ($M) Sales +8% Q2 ‘25 YoY Seq + 30 +1 529 492 +7 Sales ($M) 529 (2%) +8% Gross Margin (%) 25.9 (70bps) +160bps Q1 ’25 FX Vol / Mix Price Q2 ’25 Operating Income ($M) 79 (7%) +25% Operating Income +25% Operating Margin (%) 14.9 (80b
Slide 8: Consumer & Specialties Segment Financial Performance
CONSUMER & SPECIALTIES SEGMENT Financial Performance Sales Second Quarter Summary +4% Sales Performance $284M $268M $278M More stable order patterns compared with Q1 Growth initiatives in consumer specialty applications continue Softer conditions YoY for paper & packaging; residential construc
Slide 9: Engineered Solutions Segment Financial Performance
ENGINEERED SOLUTIONS SEGMENT Financial Performance Sales Second Quarter Summary +12% Sales Performance $257M $251M $224M Global foundry sales similar YoY and up 5% sequentially - End market demand remains steady Strong N. America steel sales; Europe remains soft Environmental & Infrastructure
Slide 10: Balance Sheet and Capital Deployment
Balance Sheet and Capital Deployment Cash Flow and Capital Deployment Liquidity Q2 ’24 Q2 ’25 Cash, Cash Equivalents, and Q2 ‘24 Q2 ‘25 $316M $320M Short-Term Investments Available Revolver $222M $374M Cash from Operations $50M $63M Total Liquidity $538M $694M Capital Expenditures $20M $29M Debt and
Slide 11: Third Quarter Outlook
Third Quarter Outlook $525M-$535M Sales Modest increase in Consumer & Specialties sales sequentially - Growth initiatives drive a sequential increase in Household & Personal Care - Similar sales in Specialty Additives ~$75M Operating Income Engineered Solutions sales similar sequentially Uncer
Slide 12: Douglas T. Dietrich, Chairman and Chief Executive Officer
Douglas T. Dietrich Chairman and Chief Executive Officer
Slide 13: 17th Annual Sustainability Report
17th Annual Sustainability Report Delivered world-class safety performance 66% of new products have a sustainable profile Achieved 11 of 12 environmental targets ahead of Deep engagement with our communities schedule around the world Visit mineralstech.com/sustainability to download a copy 13
Slide 14: © 2025 Minerals Technologies Inc. All Rights Reserved.
© 2025 Minerals Technologies Inc. All Rights Reserved.
Slide 15: Appendix
Appendix © 2024 Minerals Technologies Inc. All Rights Reserved.
Slide 16: Net Income and Diluted EPS Excluding Special Items
Reconciliation Net Income and Diluted EPS Excluding Special Items The information set forth in the Analyst Presentation presents financial measures of the Company that exclude certain special items, and are therefore not in accordance with GAAP. The following is a presentation of the Company’s non-G
Slide 17: Segment Operating Income Excluding Special Items
Reconciliation Segment Operating Income Excluding Special Items (millions of dollars) Quarter Ended Six Months Ended Jun. 29, Mar. 30, Jun. 30, Jun. 29, Jun. 30, 2025 2025 2024 2025 2024 Segment Operating Income (Loss) Consumer & Specialties Segment $ 34.0 $ 27.5 $ 43.9 $ 61.5 $ 85.9 Engineered Solu
Slide 18: Adjusted EBITDA Excluding Special Items
Reconciliation Adjusted EBITDA Excluding Special Items (millions of dollars) Quarter Ended Six Months Ended Jun. 29, Mar. 30, Jun. 30, Jun. 29, Jun. 30, 2025 2025 2024 2025 2024 Net income (loss) attributable to MTI $ 45.4 $ (144.0) $ 19.7 $ (98.6) $ 66.4 Add back: Depreciation, depletion and amorti
Slide 19: Free Cash Flow
Reconciliation Free Cash Flow (millions of dollars) Quarter Ended Six Months Ended Jun. 29, Mar. 30, Jun. 30, Jun. 29, Jun. 30, 2025 2025 2024 2025 2024 Cash flow from operations $ 62.9 $ (4.4) $ 50.1 $ 58.5 $ 106.0 Capital expenditures 29.1 18.3 20.2 47.4 36.7 Free cash flow $ 33.8 $ (22.7) $ 29.9